-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Sqlt7B0xqx6zAob7msypmbkC6OajX6mqytO8mx1rfkojlcYtKSpZG8butMBaYJQN
 DgpDoMhZmqeZ1Iu8t4zn/Q==

<SEC-DOCUMENT>0001005477-03-000606.txt : 20030508
<SEC-HEADER>0001005477-03-000606.hdr.sgml : 20030508
<ACCEPTANCE-DATETIME>20030508172247
ACCESSION NUMBER:		0001005477-03-000606
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030506
FILED AS OF DATE:		20030508

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EASTGROUP PROPERTIES INC
		CENTRAL INDEX KEY:			0000049600
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				132711135
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		P O BOX 22728
		CITY:			JACKSON
		STATE:			MS
		ZIP:			39202
		BUSINESS PHONE:		6013543555

	MAIL ADDRESS:	
		STREET 1:		P O BOX 22728
		CITY:			JACKSON
		STATE:			MS
		ZIP:			39202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EASTGROUP PROPERTIES II INC
		DATE OF NAME CHANGE:	19970529

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ICM REALTY
		DATE OF NAME CHANGE:	19830719

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			FIVE ARROWS REALTY SECURITIES L L C
		CENTRAL INDEX KEY:			0001021505
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-07094
		FILM NUMBER:		03688732

	BUSINESS ADDRESS:	
		STREET 1:		1251 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10020
		BUSINESS PHONE:		2124033500

	MAIL ADDRESS:	
		STREET 1:		1251 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10020
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar123.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0101</schemaVersion>

<documentType>4</documentType>
    <periodOfReport>2003-05-06</periodOfReport>
    <notSubjectToSection16>0</notSubjectToSection16>
<issuer>        <issuerCik>0000049600</issuerCik>
        <issuerName>EASTGROUP PROPERTIES INC</issuerName>
<issuerTradingSymbol>EGP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
    <reportingOwnerId>
        <rptOwnerCik>0001021505</rptOwnerCik>
            <rptOwnerName>FIVE ARROWS REALTY SECURITIES L L C</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
<reportingOwnerRelationship>
        <isDirector>0</isDirector>
        <isOfficer>0</isOfficer>
        <isTenPercentOwner>1</isTenPercentOwner>
        <isOther>0</isOther>
    </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeSecurity>
        <securityTitle>
            <value>Eastgroup Properties, Inc. Common Stock</value>
            <footnoteId id="F1"/>
        </securityTitle>
        <transactionDate>
            <value>2003-05-05</value>
        </transactionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>S</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>14000</value>
            </transactionShares>
            <transactionValue>
                <value>26.2848</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>D</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>213280</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </nonDerivativeSecurity>

    <nonDerivativeSecurity>
        <securityTitle>
            <value>Eastgroup Properties, Inc. Common Stock</value>
        </securityTitle>
        <transactionDate>
            <value>2003-05-06</value>
        </transactionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>S</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>16200</value>
            </transactionShares>
            <transactionValue>
                <value>26.2926</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>D</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>197080</value>
                <footnoteId id="F2"/>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </nonDerivativeSecurity>

    <footnotes>
        <footnote id="F1">$.0001 par value per share ("Common Stock")</footnote>
        <footnote id="F2">Does not include 2,600,000 shares of Series B Cumulative Convertible Preferred Stock owned which have previously been disclosed and in relation to which there are no transactions to be reported.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ James E. Quigley 3rd</signatureName>
        <signatureDate>2003-05-07</signatureDate>
    </ownerSignature>

</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----